Ally Leasehold Real Estate Investment Trust agreed to acquire The Crystal Chaiyapruek Project from The Crystal Retail Company Limited for THB 280 million.
March 09, 2021
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Ally Leasehold Real Estate Investment Trust (SET:ALLY) agreed to acquire The Crystal Chaiyapruek Project from The Crystal Retail Company Limited for THB 280 million on March 10, 2021. The transaction has been funded by Loan from BBL of approximately THB 280 million. As of December 31, 2020 The Crystal Chaiyapruek Project reported total asset value of THB 83.77 billion. The transaction is subject to Approval of the Board of Directors meeting or shareholders meeting of the Ally Leasehold Real Estate Investment Trust Manager, as the case may be, is obtained, there are no unresolved issues from legal due diligence or in case there is any pending legal issue (which shall not be an issue resulting in the assets in which Ally Leasehold Real Estate Investment Trust wishes to acquire being incompliance with relevant laws, rules and notifications) which is unresolved or cannot be rectified, the Ally Leasehold Real Estate Investment Trust Manager will disclose such risk in the registration statement for the offering of trust units (only in the circumstance that the REIT increases its capital by issuing additional trust units for sale) and will comply with the relevant laws and regulations, on the acquisition date, any mortgage or collateral registered over the additional assets will be released (if any), the Trustee has certified that the Ally Leasehold Real Estate Investment Trust acquisition of additional assets complies with the Trust Deed and relevant laws, rules and regulations and The Board of Directors of Trustee approves of Ally Leasehold Real Estate Investment Trust acquisition of additional assets, entering into loans, and other matters required for the completion of the additional assets acquisition, by early of April 2021. As of March 23, 2021, The REIT Manager hereby would like to further announce that the REIT?s proposed acquisition of additional assets in The Crystal Chaiyapruek Project has now been approved by the investment committee of the Trustee on March 22, 2021 for which The Crystal Chaiyapruek Project acquisition will be further proposed to the Trustee?s board of directors for approval on April 2, 2021 as previously announced that the approval will be granted by March 26, 2021. The transaction is expected to complete by the end of May 2021. Baker Tilly Corporate Advisory Services (Thailand) Company Limited acted as financial advisor to Ally Leasehold Real Estate Investment Trust.
ALLY Leasehold Real Estate Investment Trust (the Trust) is a Thailand-based diversified real estate investment trust. The Trust's investment policy is to invest in core assets, which comprises all types of freehold and leasehold real estate and assets that are components, machinery or equipment of the aforementioned assets, such as shopping mall, department store, community hall and other commercial space, including other commercial properties, such as convention hall, office building, commercial building, exhibition hall, warehouse and storage thatâs supports other properties which the Trust invests in, parking building, wholesale/retail market and other properties, including commercial property and other property that is relevant or supportive of real estate rental business and business that supports the Trust's investment. K.E.REIT Management Company Limited serves as a Trust's manager and SCB Asset Management Company Limited acts as a trustee.
Ally Leasehold Real Estate Investment Trust agreed to acquire The Crystal Chaiyapruek Project from The Crystal Retail Company Limited for THB 280 million.
ALLY LEASEHOLD REAL ESTATE INVESTMENT TRUST 
